MERCANTILE BANK CORP
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 3, 2025
MBWM$60.57+0.5%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
| Accumulated | |||||
|---|---|---|---|---|---|
| Other · Total | |||||
| Preferred | Common | Retained | Comprehensive | Shareholders’ | |
| (Dollars in thousands except per share amounts) | Stock | Stock | Earnings | Income/(Loss) | Equity |
| Balances, January 1, 2022 | $0 | $285,752 | $174,536 | $(3,729) | $456,559 |
| Adoption of ASU 2016-13 | 316 | 316 | |||
| Employee stock purchase plan (1,388 shares) | 45 | 45 | |||
| Dividend reinvestment plan (25,941 shares) | 867 | 867 | |||
| Stock option exercises, net (1,355 shares) | 36 | 36 | |||
| Stock grants to directors for retainer fees (11,166 shares) | 359 | 359 | |||
| Stock-based compensation expense | 3,377 | 3,377 | |||
| Cash dividends ($1.26 per common share) | (19,602) | (19,602) | |||
| Net income for 2022 | 61,063 | 61,063 | |||
| Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | (61,612) | (61,612) | |||
| Balances, December 31, 2022 | $0 | $290,436 | $216,313 | $(65,341) | $441,408 |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Continued)
| Accumulated | |||||
|---|---|---|---|---|---|
| Other · Total | |||||
| Preferred | Common | Retained | Comprehensive | Shareholders’ | |
| (Dollars in thousands except per share amounts) | Stock | Stock | Earnings | Income/(Loss) | Equity |
| Balances, January 1, 2023 | $0 | $290,436 | $216,313 | $(65,341) | $441,408 |
| Employee stock purchase plan (1,410 shares) | 45 | 45 | |||
| Dividend reinvestment plan (27,306 shares) | 891 | 891 | |||
| Stock grants to directors for retainer fees (11,529 shares) | 350 | 350 | |||
| Stock-based compensation expense | 3,384 | 3,384 | |||
| Cash dividends ($1.34 per common share) | (21,004) | (21,004) | |||
| Net income for 2023 | 82,217 | 82,217 | |||
| Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | 14,854 | 14,854 | |||
| Balances, December 31, 2023 | $0 | $295,106 | $277,526 | $(50,487) | $522,145 |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Continued)
| Accumulated | |||||
|---|---|---|---|---|---|
| Other · Total | |||||
| Preferred | Common | Retained | Comprehensive | Shareholders’ | |
| (Dollars in thousands except per share amounts) | Stock | Stock | Earnings | Income/(Loss) | Equity |
| Balances, January 1, 2024 | $0 | $295,106 | $277,526 | $(50,487) | $522,145 |
| Employee stock purchase plan (1,194 shares) | 50 | 50 | |||
| Dividend reinvestment plan (19,684 shares) | 810 | 810 | |||
| Stock grants to directors for retainer fees (11,316 shares) | 423 | 423 | |||
| Stock-based compensation expense | 3,316 | 3,316 | |||
| Cash dividends ($1.40 per common share) | (22,473) | (22,473) | |||
| Net income for 2024 | 79,593 | 79,593 | |||
| Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | 662 | 662 | |||
| Balances, December 31, 2024 | $0 | $299,705 | $334,646 | $(49,825) | $584,526 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.